Mets' Owners Done Negotiating With Madoff Trustee

Law360, New York (February 3, 2011, 7:40 PM EST) -- Settlement negotiations between the New York Mets' owners and Bernard L. Madoff bankruptcy trustee Irving Picard broke down Thursday, and both sides agreed that the trustee's complaint should be unsealed, according to a pair of letters.

The first letter was sent by David J. Sheehan, a lawyer for Picard, who told Judge Burton R. Lifland of the U.S. Bankruptcy Court for the Southern District of New York that settlement negotiations had ended.

He then requested that the complaint — which alleges that the Mets' ownership group,...